MelodieWarner

The ratings company lifted its issuer default rating on CapitalSource and its CapitalSource Bank unit to double-B from double-B-minus, leaving it two steps into junk territory. The outlook is stable.

Fitch said CapitalSource's liquidity profile has strengthened over the last year due to substantial repayment of parent company debt. The firm believes the company's liquidity is more than sufficient, given existing cash balances relative to near-term funding requirements.

CapitalSource Bank makes commercial loans to small and middle-market businesses nationwide and offers depository products and services in California. CapitalSource ended 2011 with total assets of $8.3 billion and total deposits of $5.1 billion. The company in February reported its fourth-quarter profit grew 51% as its provision for loan losses declined 52%.

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